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September 18, 2018 

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MARGINAL ANALYSIS: A basic technique used in the economics that analyzes small, incremental changes in key variables. The economic obsession with marginal changes exists for at least two reasons. One reason is that many economic decisions made in the real world are made "at the margin." A second reason for using marginal analysis can best be termed analytical sophistication.

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CONSUMER ADVISORY COUNCIL: A support committee of the Federal Reserve System that provides advice and input to the Federal Reserve Board of Governors on matters dealing with consumer credit. The Federal Advisory Council (FAC) is comprised of 30 members, representing a broad spectrum of consumer related interests. The CAC is one of three Federal Reserve Board advisory committees. The other two are Federal Advisory Council and Thrift Institutions Advisory Council.;monetary economics;monetary policy;central banking;Federal Reserve pyramid;Federal Reserve System;Chairman of the Board of Governors, Federal Reserve System;Board of Governors, Federal Reserve System;Federal Reserve Banks;Federal Open Market Committee;Federal Advisory Council;Thrift Institutions Advisory Council;open market operations;discount rate;reserve requirements;fractional-reserve banking;banks;money;bank reserves;bank panic;business cycles;check clearing;money creation;macroeconomics

     See also | Federal Deposit Insurance Corporation | Comptroller of the Currency | monetary aggregates | barter | aggregate market | unemployment | inflation | bank balance sheet | gross domestic product | circular flow | goldsmith money creation | consumer demand theory |


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CONSUMER ADVISORY COUNCIL, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: September 18, 2018].


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AVERAGE REVENUE PRODUCT AND MARGINAL REVENUE PRODUCT

A mathematical connection between average revenue product and marginal revenue product stating that the change in the average revenue product depends on a comparison between the average revenue product and marginal revenue product. If marginal revenue product is less than average revenue product, then average revenue product declines. If marginal revenue product is greater than average revenue product, then average revenue product rises. If marginal revenue product is equal to average revenue product, then average revenue product does not change.

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Today, you are likely to spend a great deal of time at a going out of business sale hoping to buy either a rechargeable battery for your cell phone or a T-shirt commemorating the 2000 Olympics. Be on the lookout for cardboard boxes.
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The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
"As the births of living creatures at first are ill-shapen, so are all innovations, which are the births of time. "

-- Sir Francis Bacon, philosopher

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